badgenome on 18 September 2012
| Soundwave said: The fact is though conceptually the idea that taxing "freeloaders" who are earning maybe 30-40k a year at best is going to fix the debt is asinine. The only way you're going to pay down the debt is if mega-wealthy individuals and corporations start paying their fair share of tax. Everyone wants to close loopholes, but they get lobbied out of doing so. It's a nice line for elections that amounts to jack all. |
You're not going to fix the debt by raising taxes at all. It's mathematically impossible. There aren't nearly enough rich people whom you can tax to close the gap, and even doubling taxes on everyone who makes more than $50,000 a year won't do it. Spending has to be cut, it's as simple as that.
